Gilead Falls On Mixed Results From Late-Stage Remdesivir Study In Moderate COVID-19

Gilead Sciences, Inc. GILD shares have come under selling pressure after the company released results Monday from a Phase 3 study of its COVID-19 treatment candidate remdesivir.

Gilead's Mixed Remdesivir Data

The company announced topline results from the Phase 3 SIMPLE study in hospitalized patients with moderate COVID-19 pneumonia. The results showed patients in the five-day remdesivir treatment group were 65% more likely to have clinical improvement at day 11 compared with those in the standard of care group.

The open-label study evaluated five-day and 10-day courses of remdesivir plus standard of care versus standard of care alone.

The 10-day treatment course of remdesivir versus standard of care — though producing favorable results — did not reach statistical significance, Gilead said.

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The company noted that no new safety signals were identified in the study.

"These study results offer additional encouraging data for remdesivir, showing that if we can intervene earlier in the disease process with a five-day treatment course, we can significantly improve clinical outcomes for these patients," said Francisco Marty, a practicing physician and a professor of medicine at Harvard Medical School.

Gillead's remdesivir has emergency use authorization in the U.S., while it is approved for COVID-19 treatment in Japan.

Gilead said it plans to submit full data for publication in a peer-reviewed journal in the coming months.

GILD Price Action

Gilead shares were down 4.21% at $74.55 at the time of publication Monday.

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